BNP Paribas looks to new ground
French bank BNP Paribas is on the verge of closing a ¥140 billion ($1.19 billion) managed synthetic collateralised debt obligation (CDO) with Japanese asset management firm Daiichi Life-IBJ Asset Management (DIAM). Expected to close this month, the transaction will be the first Japanese synthetic deal to be managed by a Japanese portfolio manager.
“I think it would have been difficult to sell the managed transaction two years ago, but now the Japanese investors are pretty sensitive to
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